Many taxpayers have participated in tax shelters and donation schemes and have filed objections with respect to reassessments issued by the Canada Revenue Agency. Many of these objections are outstanding, and some are already before the courts.
Generally when you file a Notice of Objection, the CRA is prevented from initiating legal or collections action on personal or corporate arrears.
However, if you were involved in a tax shelter after 2012, the CRA will now actively pursue collections initiatives on 50% of the disputed amount.
Participants of such shelters as GLGI, Mission Life participants in the Evident Tax Alternatives and Demara Consulting programs can all expect aggressive collections action.
If you were affected by the a tax shelter or a donation scheme and want to learn more, or if you need assistance in structuring the repayment of your tax debt, do not hesitate to contact Barrett Tax Law at 1-877-8-TAX-TAX or fill out the form to the right of the screen to schedule a consultation with one of our award-winning lawyers.